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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (50398)8/21/1998 10:28:00 AM
From: Dom B.  Read Replies (1) | Respond to of 58727
 
Once again, excellent call.

What I did when DOW down 152, NAZ down 43:

1. Sold ELNK Aug45 put;
2. Buy Long CMB @62-13/16 (still have Sept65 Puts
acquired when share was @70);

Still short AMAT and ELNK shares...

Now ready to go malling but it's too early...

When do you want your egg rolls, one ton soup and
PECT grease delivered (sheez, the list is getting
longer by each passing day!!!)

stay cool...shi she(sp?)

That's thanks a lot, guys and goils...



To: donald sew who wrote (50398)8/21/1998 12:03:00 PM
From: j g cordes  Respond to of 58727
 
A little perspective..

We set a Dow high of approximately 9300. Over the last 8 years we haven't had a normal cyclic correction of 15-20% throughout this incredible run. Its worth while looking where a typical retracement should put us.

10% retracement = Dow 8370

15% retracement = Dow 7905

20% retracement = Dow 7440

The worst so far today has brought us down a little over 10%...
Hardly a "melt down," more like a grilled cheeze sandwich.

Jim


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